Thanks all - helpful. Separately, any idea how much of the $35m cash in bank is left after June? Wasn’t clear to me how much of that $35 was being spent on brus share of the 3 wells?
I’m assuming at around A$100 Brent they are making about $70 cash margin bbl. so say $70 x 280k bbl pa x 50% share = c. $10m ebitda to us at current oil price. So 2.5m a quarter. Agree?
above is basically the long way of me just trying to figure out how long the 35m with ungani cash flow will last - does everyone reckon this will be enough to see us through the 2022 drill season too? And maybe 2023? So basically buys us another 4-6 punts at company making wells.
thoguhts?
BRU Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
